July 24, 2015
Bloomberg got into the act today with a quote from a Chinese economist telling readers:
“‘A lot of entrepreneurs probably have invested in the stock market and now they have seen a significant loss,’ Liu Li-Gang, chief Greater China economist at Australia & New Zealand Banking Group Ltd. in Hong Kong, said in a Bloomberg Television interview. ‘As a result business confidence has lowered. In the past, sentiment tends to have a lot of impact on this survey.'”
The problem with story for arithmetic fans everywhere is that people only lost money on what they have invested since April. The Shanghai stock market is still up by more than 25 percent since the start of the year and nearly double its year ago level. In other words, not many people could be on net losers in this story, even if they are not quite as rich as they hoped to be.
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